Benzinga | May 11, 2021 01:24PM EDT

Radcom Beats On Q1 Earnings, Reiterates FY21 Guidance

* Radcom Ltd (NASDAQ: RDCM) reported first-quarter FY21 revenue growth of 9.8% year-on-year to $9.14 million, missing the analyst consensus of $9.21 million.

* Non-GAAP gross profit rose 29.9% Y/Y to $6.8 million. Gross margin expanded 1,140 basis points to 74.1%.

* Adjusted operating loss declined 55.2% Y/Y to $1.13 million.

* Non-GAAP net loss declined 58% Y/Y to $1 million with an adjusted EPS loss of ($0.07), beating the analyst consensus ($0.08) loss.

* Radcom held $67.3 million in cash and equivalents.

* Guidance: Radcom reiterated its FY21 revenue guidance of $39 million - $41 million compared to the analyst consensus of $39.6 million.

* Radcom continued to invest and strengthen its position as the leading 5G assurance provider, CEO Eyal Harari said.

* Price action: RDCM shares traded higher by 2.66% at $9.65 on the last check Tuesday.